Worksport, which operates in the field of clean energy solutions and automotive technology, has announced plans to include Bitcoin (BTC) and XRP Coin projects in company reserves. This decision is considered as a step parallel to global developments with BTC’s continuing to consolidate the place in corporate treasures.
Long -term investment for Bitcoin and XRP Coin
Worksport made its first six -digit investment for Bitcoin (BTC) and Ripple (XRP) this week, and announced its long -term commitment. With the growth of cash reserves, the company plans to increase Bitcoin and XRP investments. This strategy aims to devote some of the company’s cash reserves to BTC and XRP investments. After the announcement, Worksport’s shares increased by 4 %on Wednesday to $ 1.0 and an increase of 2 %during the post -market transaction hours.
Following his first purchase, Worksport said he plans to closely monitor the regulatory developments under the Trump administration. In addition, the automotive technology company has taken a wise step by investing in Bitcoin and XRP among the ongoing debates on crypto reserves. The company also plans to integrate crypto money payment options on Worksport.com. This initiative offers more flexibility to customers, while the company’s blockchain and crypto assets are also compatible with the aim of increasing operational efficiency. Steven Rossi, Worksport CEO, evaluated this development as follows:
Our business is growing rapidly, income is increasing and our margins are recovering regularly. We think that our strategic treasury plan is a low -risk approach to hedize inflation and that we can benefit from increasing the regulatory clarity of crypto currencies. We approach our existing BTC and XRP investments from a long -term perspective.
Coinbase will be the storage of crypto assets
Worksport chose Coinbase to secure crypto reserves. The company emphasized Coinbase’s strong regulatory compliance, advanced security protocols and insurance -supported storage solutions as decisive factors in the decision to choose the platform. CEO Steven Rossi said, olur Working with a first -class crypto storage is similar to establish a partnership with a first -class bank, ”he said. Coinbase also serves leading financial institutions such as Blackrock and manages almost 90 %of almost all Bitcoin ETFs.
This treasury update is compatible with Worksport’s wider growth strategy, which aims to increase an important income increase for 2025. The company also pointed out that this cooperation would facilitate the entering into the crypto money market and advance its strategic goals. Meanwhile, Tesla announced that the value of Bitcoin investments increased to $ 1,076 billion at the end of 2024.
